National Bank for Agriculture and Rural Development (NABARD) organised its first ‘Digital Choupal’ to mark its 39th foundation day. “Digital Choupal” was conducted in the form of a video conference which was attended by participants of different projects initiated by NABARD, to share their experiences about the projects they are involved in.
During the ‘Digital Choupal’ session, NABARD also announced Rs 5,000 crore of refinance scheme for banks and financial institutions. With this refinance scheme, the development finance institution aims to offer finance to the beneficiaries of its 2,150 watershed development projects. It also assigned another Rs 5,000 crore to transform Primary Agricultural Credit Societies (PACS) into multi service centres. This concessional line of assistance will be available for a period of three years from 2020-21 to 2022-23. NABARD has planned to upgrade 5,000 PACS in the fiscal year 2021, followed by 15,000 PACS in fiscal year 2022 and 15,000 PACS in fiscal year 2023.
Important takeaways for all competitive exams:
- Chairman of National Bank For Agriculture And Rural Development: G R Chintala.